AC Milan announced today that chief executive Ivan Gazidis is leaving Arsenal after 10 years in London to become the new CEO of the Rossoneri club.
After Leonardo and Maldini, Ivan Gazidis completes AC Milan’s managerial team. The Rossoneri announced today that Gazidis has accepted their offer to join the club as the new Chief Executive Officer (“CEO”). The current Arsenal executive director will officially begin his CEO duties on December 1, 2018.
The South African is widely considered as one of the best CEO’s in the game and man who set the wheels of change in motion at Arsenal. The name of Gazidis has been linked with AC Milan even since Elliott Management took control of the club following the default on a loan by former owner Yonghong Li. But why would the most powerful man at Emirates stadium find the Milan offer so tempting?
According to reports from England it’s not about money. Even though Gazidis could end up earning 4 million euros per year (best case scenario) his base salary would in fact be lower than when he was peacefully earning in London. His “Italian” agreement foresees a bonus structure and perhaps even some equity, but it’s solely based on the club growing revenue quickly, and that is by no means guaranteed.
ESPN analyzes what could be the reasons behind the choice of the current Arsenal executive director to leave the Gunners for the Rossoneri club. As explained above they are not inherent to the economic aspect since the South African is among the three best-paid executives in European football. The motives behind his transition from Arsenal to AC Milan would be of a private nature.
Ivan Gazidis has a decades-long friendship with Gordon Singer, son of owner Paul Singer. The second is a personal challenge. It’s entirely possible that Gazidis simply relishes the challenge of restoring one of the biggest club in world football back to its past glory. The Rossoneri are experiencing a year-zero situation.
The new owners have practically dismantled the squad, and club structure, previously build by Yonghong Li. A lot of work is needed, on and off the pitch, to bring back Milan where it rightfully deserves to be. A perfect job for an ambitious and demanding CEO.
